**The Rapid Rise of Bitcoin Adoption Among Corporations and Institutions**
In the past year, the pace at which corporate and private institutions have embraced the Bitcoin standard has skyrocketed, as this digital asset continues to gain mainstream traction. Confidence in Bitcoin has surged faster than any other asset class in history, with the pioneering cryptocurrency experiencing remarkable adoption reminiscent of the early days of the internet. A recent report sheds light on this growing acceptance of an asset that was once dismissed as a bubble. According to a piece published by Rivers Financial, a Bitcoin-only financial institution, the adoption rate has significantly increased over the past two years.
**Public Companies Massively Stacking Bitcoin**
The report released on Tuesday reveals that the adoption rate among public companies has surged by an impressive 80% since January 2024, with 81 firms now including Bitcoin on their balance sheets. Looking back further, the numbers have skyrocketed by 139% since 2023, with three Nasdaq 100 and two S&P 500 companies now embracing the Bitcoin standard. This rising trend follows the remarkable achievement of Strategy (formerly MicroStrategy), which adopted Bitcoin as its primary reserve asset. For context, its stock, MTSR, has experienced a staggering 1,752% increase over five years, recently entering the Nasdaq 100 due to its outstanding performance. Recently, public firms such as Matador, Kurl Technology, Rumble, and Metaplanet have also adopted the Bitcoin standard, reflecting growing confidence in the largest cryptocurrency by market capitalization.
**Top 70 Firms Holding Bitcoin: Businesses Acquiring Over 1,000 BTC per Day Since 2024**
The Rivers report further highlights the increasing number of Bitcoin acquisitions by both established and new adopters of the Bitcoin standard. According to the report, businesses have been acquiring 1,000 bitcoins daily since January 2024. Strategy has been at the forefront of this Bitcoin-hungry movement, making continuous purchases. Just this past Monday, the business intelligence firm acquired 20,356 BTC, bringing its total holdings to 499,096 BTC (valued at $43 billion). In total, public companies now hold over 652,000 BTC, with a significant portion under Strategy’s management.
**Changes in Bitcoin Ownership**
The report also points out a shift in Bitcoin’s distribution among various entities. Businesses and exchange-traded funds (ETFs) have recently joined the fray, leading to a notable decrease in holdings among other groups. For context, institutional interest in Bitcoin has led ETFs and other funds to accumulate over 519,000 BTC, while businesses have amassed 374,000 BTC in 2024. This shift in distribution resulted in individuals, governments, and other entities losing 893,000 BTC last year.
**Room for Expansion in Bitcoin Adoption**
Despite these impressive figures, data indicates that there is still ample room for growth. Currently, less than 1% of publicly traded companies have gained exposure to Bitcoin, suggesting that many more balance sheets are yet to embrace this digital asset.
